Arrowstreet Capital Limited Partnership reduced its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 95.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 19,719 shares of the company's stock after selling 391,639 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Ferguson were worth $3,431,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of FERG. Parnassus Investments LLC raised its position in Ferguson by 944.4% in the 4th quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company's stock valued at $613,944,000 after buying an additional 3,198,477 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Ferguson by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,197,621 shares of the company's stock valued at $633,409,000 after purchasing an additional 25,677 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in Ferguson by 7.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,804,595 shares of the company's stock worth $486,814,000 after purchasing an additional 192,052 shares during the last quarter. Norges Bank purchased a new position in Ferguson during the fourth quarter worth about $469,730,000. Finally, Franklin Resources Inc. grew its position in Ferguson by 6.0% in the 3rd quarter. Franklin Resources Inc. now owns 2,371,954 shares of the company's stock worth $477,858,000 after purchasing an additional 133,769 shares in the last quarter. Institutional investors own 81.98% of the company's stock.
Analyst Upgrades and Downgrades
FERG has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Ferguson in a research note on Tuesday, April 1st. They issued a "hold" rating and a $174.00 target price on the stock. Robert W. Baird set a $190.00 price objective on Ferguson and gave the company an "outperform" rating in a research note on Wednesday, March 12th. Bank of America upgraded Ferguson from an "underperform" rating to a "buy" rating and lifted their target price for the stock from $185.00 to $225.00 in a research note on Wednesday, January 8th. Citigroup reduced their target price on shares of Ferguson from $189.00 to $168.00 and set a "neutral" rating for the company in a research report on Wednesday, March 12th. Finally, Barclays cut their price target on Ferguson from $211.00 to $190.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $198.62.
Get Our Latest Analysis on FERG
Ferguson Trading Up 1.7 %
Shares of FERG traded up $2.78 during trading hours on Monday, hitting $167.51. The company had a trading volume of 98,017 shares, compared to its average volume of 1,964,700. The firm has a market cap of $33.49 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.69 and a beta of 1.17. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $225.63. The stock's 50 day moving average price is $168.30 and its 200 day moving average price is $184.30. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.
Ferguson (NASDAQ:FERG - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.58 by ($0.06). Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The firm had revenue of $6.87 billion during the quarter, compared to analysts' expectations of $6.76 billion. During the same quarter in the previous year, the firm posted $1.74 EPS. Ferguson's revenue was up 3.0% compared to the same quarter last year. On average, research analysts predict that Ferguson plc will post 9.4 EPS for the current year.
Ferguson Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $3.32 annualized dividend and a yield of 1.98%. Ferguson's dividend payout ratio (DPR) is presently 40.84%.
About Ferguson
(
Free Report)
Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.
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